Core Viewpoint - Haier Smart Home (600690)(06690) announced a share buyback plan with a maximum limit of €2 million, aimed at enhancing its capital structure through the repurchase and cancellation of shares [1] Group 1: Share Buyback Plan - The company will repurchase up to 1 million D-shares, representing approximately 0.369% of its current D-share capital [1] - The share buyback will be conducted via the XETRA trading system on the Frankfurt Stock Exchange and selected multilateral trading facilities within the EU [1] - The buyback program is set to commence around January 21, 2026, and will continue until February 13, 2026 [1] Group 2: Capital Reduction - The shares repurchased under the plan will be canceled, leading to a reduction in the company's capital [1] - The company believes that this capital reduction will have a positive impact on its capital structure [1]

Core Viewpoint - Haier Smart Home (06690) announced a share buyback plan with a maximum scale of €2 million, aimed at enhancing its capital structure through the repurchase and cancellation of shares [1] Group 1: Share Buyback Plan - The company will repurchase up to 1 million D-shares, representing approximately 0.369% of its current D-share capital [1] - The buyback will be conducted via the XETRA® trading system on the Frankfurt Stock Exchange and selected multilateral trading facilities within the EU [1] - The buyback program is set to commence on or around January 21, 2026, and will continue until February 13, 2026 [1] Group 2: Capital Reduction - The shares repurchased under the plan will be canceled, leading to a reduction in the company's capital [1] - The company believes that this capital reduction will have a positive impact on its capital structure [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Haier Smart Home Co., Ltd.* 海爾智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 有關D股回購計劃的公告 本公告乃由海爾智家股份有限公司（「本公司」）董事會（「董事會」）根據香港法例第 571章《證券及期貨條例》第XIVA部及香港聯合交易所有限公司證券上市規則第 13.09(2)(a)條及第13.10B條作出。 董事會決議利用本公司於2025年5月28日舉行的2024年年度股東大會（「2024年年度 股東大會」）授予的授權，回購股份並啟動D股回購計劃，回購規模上限為2,000,000 歐元（不包括附加回購成本）（「股份回購計劃」）。根據股份回購計劃回購的D股將被 註銷，從而減少本公司資本。本公司相信，此次減少資本將對其資本結構產生正面 影響。 根據股份回購計劃，本公司將回購最多1,000,000股本公司D股，相當於本公司目前 D股股本的約0.3 ...

Core Viewpoint - Haier Smart Home announced a plan to repurchase shares of its D stock, with a maximum expenditure of up to 2 million euros, excluding related costs, and a maximum quantity of up to 1 million shares, which represents approximately 0.369% of the company's D stock capital and 0.011% of the total share capital [1] Group 1 - The company intends to repurchase D shares, which will subsequently be canceled, leading to a reduction in registered capital [1]

格隆汇1月20日丨海尔智家(600690.SH)公布，拟通过法兰克福证券交易所的XETRA®交易系统以及欧盟 境内选定的多边交易设施进行回购公司股份，拟回购总金额最高不超过200万欧元，或拟回购最大数量 不超过100万股（约占公司D股股本的0.369%，占公司总股本的0.011%）。回购股份将用于注销D股股 份，减少注册资本，优化资本结构。回购期限为2026年1月21日或前后开始，持续至2026年2月13日。 ...

Group 1 - The company Haier Smart Home (600690) announced a plan to repurchase shares, with a maximum expenditure of up to 2 million euros (excluding related costs) [1] - The repurchase will involve a maximum of 1 million shares, which represents approximately 0.369% of the company's D-share capital and about 0.011% of the total share capital [1] - The repurchased D-shares will be canceled, leading to a reduction in the company's registered capital [1]

证券代码：600690 证券简称：海尔智家 公告编号：临2026-002 海尔智家股份有限公司 回购境外上市外资股（D 股）的提示性公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 海尔智家股份有限公司（以下简称"海尔智家"、"公司"）于 2026 年 1 月 20 日在德国信息披露平台、公司网站等刊登了《依据<欧洲议会和欧盟理事会 第 596/2014 号条例>（市场滥用条例—MAR）第 17 条第 1 款发布的内幕信息披 露》《海尔智家：依据<欧洲议会和欧盟理事会第 596/2014 号条例>第 5 条和<欧 盟委员会第 2016/1052 号授权条例>第 2 条第 1 款发布的通知》，主要内容摘录 如下： 特此公告。 本次 D 股回购计划将通过法兰克福证券交易所的 XETRA®交易系统以及欧 盟境内选定的多边交易设施进行。本次 D 股回购计划将于 2026 年 1 月 21 日或前 后开始，并持续至 2026 年 2 月 13 日。 本次 D 股回购计划将根据市场状况进行，并遵守适用的规则和法规，包括 欧洲议会和理事 ...

海尔智家公告称，根据2024年年度股东大会授权，拟推出D股股份回购计划，拟回购资金总额最高不超 3000万欧元（不含相关费用），最大数量不超100万股，约占公司D股股本的0.369%、总股本的 0.011%。回购的D股将被注销以减少注册资本。本次回购将于2026年1月21日或前后开始，持续至2026 年7月20日，可根据情况停止、暂停或恢复。 ...

Core Viewpoint - The white goods sector experienced a rise of 1.72% on January 20, led by Whirlpool, while the overall market indices showed slight declines [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4113.65, down 0.01% [1]. - The Shenzhen Component Index closed at 14155.63, down 0.97% [1]. - The white goods sector saw a net inflow of 844 million yuan from main funds, while retail investors experienced a net outflow of 378 million yuan [1]. Group 2: Individual Stock Performance - Whirlpool (600983) closed at 10.91 yuan, up 3.02%, with a trading volume of 108,100 hands and a transaction value of 116 million yuan [1]. - Gree Electric (000651) closed at 41.28 yuan, up 1.85%, with a trading volume of 906,400 hands and a transaction value of 3.72 billion yuan [1]. - Midea Group (000333) closed at 79.00 yuan, up 1.78%, with a trading volume of 455,400 hands and a transaction value of 3.58 billion yuan [1]. - Haier Smart Home (600690) closed at 26.38 yuan, up 1.70%, with a trading volume of 654,200 hands and a transaction value of 1.71 billion yuan [1]. - Hisense Home Appliances (000921) closed at 24.87 yuan, up 0.85%, with a trading volume of 142,900 hands and a transaction value of 355 million yuan [1]. Group 3: Fund Flow Analysis - Gree Electric saw a main fund net inflow of 4.26 billion yuan, while retail investors had a net outflow of 2.02 billion yuan [2]. - Midea Group had a main fund net inflow of 4.05 billion yuan, with retail investors experiencing a net outflow of 793.78 million yuan [2]. - Haier Smart Home recorded a main fund net inflow of 1.16 billion yuan, while retail investors had a net outflow of 1.58 billion yuan [2]. - Hisense Home Appliances faced a net outflow of 441.9 million yuan from main funds, but retail investors had a net inflow of 258.89 million yuan [2].

Investment Rating - The report maintains a "Buy" rating for the consumer discretionary sector, highlighting structural investment opportunities [5][10]. Core Insights - The report indicates that in December, the total retail sales of consumer goods increased by 0.9% year-on-year to 4.5 trillion yuan, with a month-on-month decline of 0.4 percentage points, primarily due to high base effects from durable goods like automobiles and home appliances [7][9]. - The report emphasizes the importance of the new round of trade-in policies for 2026, which focus on core home appliance categories and expand into new categories like smart glasses and products for the elderly, supporting demand in these segments [7]. - The report suggests that consumer sentiment remains strong, particularly in sectors like emotional consumption, technology consumption, and undervalued high-dividend stocks, recommending a focus on domestic brands and global brand expansion [10]. Summary by Sections Retail Sales Performance - In December, retail sales of food and beverages grew by 2.2% and 0.7% respectively, with urban and rural retail sales increasing by 0.7% and 1.7% year-on-year [8]. - Online retail sales of physical goods in December increased by 0.8% year-on-year, with a total annual growth of 5.2%, accounting for 26.1% of total retail sales [8]. Consumer Categories - The report notes a structural differentiation in consumer categories, with home appliances, building materials, and furniture experiencing declines of 18.7%, 11.8%, and 2.2% respectively due to high base effects and trade-in policy impacts [9]. - Conversely, communication equipment saw a significant increase of 20.9% year-on-year, while emotional and self-care products like sports and entertainment goods and cosmetics grew by 9.0% and 8.8% respectively [9]. Investment Recommendations - The report identifies four main investment themes: 1. Rise of domestic brands and global brand expansion, recommending companies like Pop Mart, Shangmei, and Anta Sports [10]. 2. Technology consumption empowered by AI, recommending companies like Midea Group and Haier Smart Home [10]. 3. Emotional consumption, recommending companies like Gu Ming and Yum China [10]. 4. Undervalued high-dividend blue-chip leaders, recommending companies like Li Ning and Shenzhou International [10]. Company-Specific Insights - For Smoore International (6969 HK), the report forecasts a revenue of 10.21 billion yuan for Q1-3 2025, with a year-on-year growth of 21.8%, and maintains a "Buy" rating with a target price of 27.00 HKD [48]. - For Juzhibio (2367 HK), the report highlights the approval of a new collagen product, projecting significant sales potential and maintaining a "Buy" rating with a target price of 85.00 HKD [49]. - For Pop Mart (9992 HK), the report notes a revenue increase of 245-250% in Q3 2025, driven by strong performance in both domestic and international markets, maintaining a "Buy" rating with an updated target price of 410 HKD [51].